The project involves the development of a nearly 6,000 m² strip mall retail centre located close to Budapest, at the Bag interchange of the M3 motorway. The development is expected to accommodate more than ten carefully selected tenants, offering passing traffic and local residents a convenient, one-stop destination for their everyday needs.
Construction of MyRA Park M3 began in late 2025, with handover anticipated in Q4 2026. Grant Thornton is serving as the bank's technical supervisor for the project.
A Strategic Move into Retail
"The financing of MyRA Park M3 is an important milestone for Faedra Group: with this project, we are making an active entry into the retail real estate market, while also completing our first collaboration with OTP Bank," said Bence Boronkay on behalf of Faedra Group. "Diversified portfolio development is a core part of our strategy — alongside residential and industrial-logistics projects, the retail segment is playing an increasingly prominent role. The strong tenant interest and results to date validate both the market opportunity and the viability of our concept."
"Our decision to finance this investment was underpinned by the project's strong location, well-considered concept, and encouraging pre-leasing activity. Supporting developments that respond to genuine market demand, rest on solid business foundations, and create lasting value is a priority for OTP Bank. We are confident that this collaboration with Faedra Group marks the beginning of a productive and enduring professional partnership," said Melinda Prácser, Group Leader of the Real Estate Finance Division at OTP Bank.
